Renting a dwelling is great if you need flexibility in your living situation. It allows you to move to a new location at will as you don’t own your space. But there comes a time in life when you’re ready to put down some roots. Maybe you’re tired of the nomadic lifestyle. Or you’ve established yourself in a steady employment situation. Perhaps you’ve just gotten married. But, as a first-time home buyer, you undoubtedly have a lot of questions, including about how much home you can afford. At Starboard Financial, we can help get you started with the prequalification process. Then, you can start thinking about the kind of home who want to buy.
The Benefits of Home Ownership
Owning a home has its plusses and minuses. But the positives far outweigh the negatives when compared to apartment living. Some of the good things about owning a home include:
- First and foremost, there is something to be said about the pride you feel when you own a home. It’s all yours, and it’s a place where you can make memories for many years to come.
- Your rent payment is now a mortgage payment that increases equity in your property every time you make a payment. No more putting money in a landlord’s pocket.
- Your home will build value over time and increase your return on investment. If you select your home wisely, you’ll have decent appreciation on its value in time.
- There are no restrictions on what you are able to do with decorating your home’s interior. You can make creative decisions about your home, and make it uniquely yours.
Taking the Step Towards Buying a Home
Loan prequalification is the first step to your home buying process. It can give you a better idea about how much home you can afford and how much you can borrow. At Starboard Financial, we take a look at your income, credit history, and other financial information to determine just what the possibilities are for you.
Contact us here to learn more about prequalification and the mortgage lending process.